All works contained in this podcast are not intended to constitute legal or professional advice and may not reflect the views and opinions of CPA Australia. CPA Australia does not warrant or make representations as to the accuracy, completeness, suitability or fitness for purpose of this podcast and disclaims all liability and responsibility for any acts or omissions made in reliance of this podcast. Individuals should seek their own independent legal, financial or other advice for their specific circumstances. When anti-money laundering (AML) comes to mind, most accountants assume it only applies to large transactions – but that's now changing. This episode explains <a class="Hyperlink SCXW99416092 BCX0" href= "https://www.cpaaustralia.com.au/public-practice/inpractice/practice-management/aml-ctf-legislation-legal-lowdown-looming-rules" target="_blank" rel="noreferrer noopener">new AML obligations for accountants</a>. Specifically, how the reforms to AML and counter terrorism financing (CTF) in 2026 will affect many accounting practices. You'll gain a clear understanding of what the changes will mean, including which services fall under the new designated services rules, how the regulator AUSTRAC (Australian Transaction Reports and Analysis Centre) will assess compliance and what firms can do now to prepare. Key learnings include: <ul class="BulletListStyle1 SCXW99416092 BCX0" role="list"> <li class="OutlineElement Ltr SCXW99416092 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="1" data-aria-level="1"> An explanation of the regulator <a class="Hyperlink SCXW99416092 BCX0" href= "https://www.linkedin.com/company/austrac/" target="_blank" rel= "noreferrer noopener">AUSTRAC's</a> role and tranche two reforms to the AML/CTF regime </li> </ul> <ul class="BulletListStyle1 SCXW99416092 BCX0" role="list"> <li class="OutlineElement Ltr SCXW99416092 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="2" data-aria-level="1"> The timeline for implementation of these new reforms </li> </ul> <ul class="BulletListStyle1 SCXW99416092 BCX0" role="list"> <li class="OutlineElement Ltr SCXW99416092 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="3" data-aria-level="1"> How to identify whether your services qualify as "designated" services </li> </ul> <ul class="BulletListStyle1 SCXW99416092 BCX0" role="list"> <li class="OutlineElement Ltr SCXW99416092 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="4" data-aria-level="1"> How to conduct risk assessments </li> </ul> <ul class="BulletListStyle1 SCXW99416092 BCX0" role="list"> <li class="OutlineElement Ltr SCXW99416092 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="5" data-aria-level="1"> Why client onboarding and beneficial ownership checks will become more detailed </li> </ul> <ul class="BulletListStyle1 SCXW99416092 BCX0" role="list"> <li class="OutlineElement Ltr SCXW99416092 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="6" data-aria-level="1"> What sole practitioners should consider in meeting new compliance obligations </li> </ul> Tune in now for valuable information on this key reform in 2026. Host: <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.linkedin.com/in/neville-birthisel-5a48741b/" target= "_blank" rel="noreferrer noopener">Neville Birthisel</a>, Advisor, Regulations and Standards, CPA Australia Guest: <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.linkedin.com/in/adrian-verdnik-302b1b4/" target= "_blank" rel="noreferrer noopener">Adrian Verdnik</a>, Partner and Section Leader, Banking and Financial Services Practice, Hall & Wilcox. His financial services law practice covers superannuation, managed funds, insurance and financial advice. Learn more about <a class="Hyperlink SCXW99416092 BCX0" href= "https://hallandwilcox.com.au/our-people/adrian-verdnik/" target= "_blank" rel="noreferrer noopener">today's episode guest at the Hall & Wilcox website.</a> AUSTRAC's site has <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.austrac.gov.au/about-us/amlctf-reform" target="_blank" rel="noreferrer noopener">more information on what accountants need to know about AML and CTF reform.</a> Additionally, CPA Australia's Public Practice <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.cpaaustralia.com.au/public-practice/my-firm-my-future/compliance-and-governance/anti-money-laundering-reforms-in-au-and-nz/aml-ctf-au" target="_blank" rel="noreferrer noopener">My Firm My Future site has further information on AML and CTF obligations for many practitioners in Australia.</a> Loving this episode? Listen to more With Interest episodes and <a class="Hyperlink SCXW99416092 BCX0" href="https://www.youtube.com/@CPAaustralia/podcasts" target= "_blank" rel="noreferrer noopener">other CPA Australia podcasts on YouTube.</a> CPA Australia <a class="Hyperlink SCXW99416092 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts" target="_blank" rel="noreferrer noopener">publishes four podcasts</a>, providing commentary and thought leadership across business, finance, and accounting: <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/with-interest" target="_blank" rel="noreferrer noopener">With Interest</a> <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack" target="_blank" rel="noreferrer noopener">INTHEBLACK</a> <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack-outloud" target="_blank" rel="noreferrer noopener">INTHEBLACK Out Loud</a> <a class= "Hyperlink SCXW99416092 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack" target="_blank" rel="noreferrer noopener">Excel Tips</a> Search for them in your podcast platform. Email the podcast team at <a class="Hyperlink SCXW99416092 BCX0" href= "mailto:podcasts@cpaaustralia.com.au" target="_blank" rel= "noreferrer noopener">podcasts@cpaaustralia.com.au</a>

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